Porsche 2014 Annual Report Download

Download and view the complete annual report

Please find the complete 2014 Porsche annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 65

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65

ANNUAL REPORT 2014

Table of contents

  • Page 1
    ANNUAL REPORT 2014

  • Page 2

  • Page 3

  • Page 4

  • Page 5

  • Page 6

  • Page 7

  • Page 8

  • Page 9

  • Page 10

  • Page 11

  • Page 12

  • Page 13

  • Page 14

  • Page 15

  • Page 16
    PERFORMANCE NEEDS NO WORDS. YOU WILL RECOGNIZE IT.

  • Page 17
    ...climax came with Porsche's return to the world of high-end motorsports. After 16 years away from the competition, we developed the 919 Hybrid as our entrant in the "World Endurance Championship," all part of our "Strategy 2018." We got off to a furious start. In Le Mans, our 919 Hybrid was in second...

  • Page 18
    ...R Procurement LUTZ MESCHKE Finance and IT DR. OLIVER BLUME Production and Logistics W O L FG A N G H AT Z Research and Development THOMAS EDIG Deputy Chairman of the Executive Board Human Resources M AT T H I A S M Ü L L E R Chairman of the Executive Board Annual Report Porsche AG 2014 032 033

  • Page 19
    ... chairman of the works council of Porsche Automobil Holding SE HON.-PROF. DR. TECHN. H.C. FERDINAND K. PIËCH Betriebswirt Member of the board of management of Volkswagen AG Sales and Marketing PROF. DR. RER. POL. HORST NEUMANN (since 18 July 2014) Head of Sales Planning ANTONIO GIRONE1) (until...

  • Page 20
    .... The future of the sports car has already begun. Point of origin: The Weissach think tank. Porsche returned to high-end endurance motorsports in 2014 with its rolling research laboratory, the 919 Hybrid. Delivery of the 918 Spyder supercar kicked off at the same time. Both vehicles stand out...

  • Page 21
    ... many times in the past, within a year of joining the top league the car had already claimed one victory and earned several additional trips to the podium. It's excellently positioned heading into the Porsche AG front axle is a key part of the electric Porsche Traction Management (ePTM) system that...

  • Page 22
    ... lap times. A switch shifter on the steering wheel lets the driver move quickly between five operating modes. The "E-Power" mode is the default upon ignition. In "Hybrid" mode the electric motors and combustion engine work in alternation to target maximum efficiency and minimal fuel consumption...

  • Page 23
    ... rally. Two years later, the first production car using the allwheel drive came on the market, the 911 Carrera 4 (964). Porsche has continued to refine the concept ever since. The next stage of innovation involves all-wheel drive with electric motor support, as embodied by the 911 GT3 R Hybrid, 918...

  • Page 24
    ... also a certain competitive ambition that drives us on," says Uwe Schneider, General Manager Development complete vehicle Testing and Quality Management. "It works like an R&D accelerator: Porsche is at home in the motorsports world - and like an athlete, every employee is ready at all times to give...

  • Page 25
    ... growth rate. With a total of 619 new cars delivered, the Boxster/Cayman model series also played a big part in the successful Porsche AG In financial year 2014, Porsche delivered 23,841 new vehicles to customers in its home market, thus breaking a new record. The sports car manufacturer beat...

  • Page 26
    ...DEMAND FOR THE MACAN In financial year 2014, after a 16-year break, Porsche returned to the 24-hour race at Le Mans with the 919 Hybrid, thus rejoining the pinnacle of motorsport. The sales figures were also encouraging. With 4,025 new car deliveries, Porsche France beat its prior-year figure by 18...

  • Page 27
    ...: SALES ON HIGH The number of vehicles manufactured in the Porsche AG group increased in the reporting year by 23 percent to 203,097 units. At the Leipzig plant, 66,005 vehicles of the Cayenne model series, 59,363 units of the Macan and 22,383 vehicles of the Panamera series rolled off the line...

  • Page 28
    Business Development buildings into central vehicle workshops. Already at the end of the year, construction work was kicked off for a new training centre. The new building, which will open in 2015, offers space for approximately 500 job entrants. In addition to a training workshop, the building ...

  • Page 29
    ...the Le Mans prototype: The new Porsche 919 Hybrid is a powerful evolution of the successful version which débuted in 2014. The new generation's initial roll-out took place in mid-December 2014. In addition, the engineers' tasks at the Weissach Development Centre in financial year 2014 included work...

  • Page 30
    ... The top speed of the electric motor is 125 km/h. The battery can be charged through the power grid or while driving. Vehicle data can be viewed on a smartphone using Porsche Car Connect, a standard feature for this series. RESEARCH AND DEVELOPMENT COSTS RISE In financial year 2014, research costs...

  • Page 31
    ... Executive Board - Finance and IT, speaking with students at the Graduate School of Management about current challenges faced by the global economy. Leipzig has become a trusted second home base for Porsche. The Cayenne, Panamera and (as of 2014) Macan compact SUV all roll off the assembly line just...

  • Page 32
    ... Leipzig Graduate School of Management (HHL). For the past two years, Porsche has endowed a teaching chair for Strategic Management and Family-Run Companies here, under the direction of Professor Stephan Stubner. Lutz Meschke, Member of the Executive Board - Finance and IT at Porsche, has supported...

  • Page 33
    ... into our plans. And we've already delivered some answers. Porsche is currently the world's only car maker to offer three plug-in hybrid models in the premium segment: the Panamera S E-Hybrid, the Cayenne S E-Hybrid and the 918 Spyder supercar, which is already sold out. Through these vehicles we've...

  • Page 34
    The Leipzig location a type of rolling office. The expectation would thus be that you can not only make phone calls when driving, but also surf the internet, post to twitter and use messenger software. There really are differences between customer expectations for different brands. One focuses on ...

  • Page 35
    ... in white racing overalls heads over toward her favourite toy. She opens the driver side door and glides into the seat. Michelle Gatting buckles up, turns the key in the ignition, activates the button with the dual exhaust symbol on the centre console, releases the brake pedal and asks: "Slow or...

  • Page 36
    ... rural driving. To test out the braking performance on a wet driving surface, there is also a 150-metre Porsche AG Loews Victoria Turn Sunset Bend Corkscrew Carousel Suzuka S Parabolica * The marked curves are based on the original curves. Annual Report www.porsche-leipzig.com 2014 068...

  • Page 37
    ... by driving this model. Many customers buy Porsche after Porsche, and often own more than one at a time. This marked loyalty of drivers is anchored in the high level of product quality and the premium customer service throughout the entire customer life cycle. Dedicated and professional partners at...

  • Page 38
    ... assemble its sporty off-roader, the Cayenne, not only at the Leipzig plant but also in Osnabrück. A further 25 million euro will be invested there in continuation of this successful partnership between the two groups of companies. SERIES PRODUCTION AT THE MAIN PLANT IN ZUFFENHAUSEN Annual Report...

  • Page 39
    ... year was the Company's participation in the World Endurance Championship and, in particular, the associated return of Porsche to Le Mans. In collaboration with all related departments, procurement chose the right partners for the motorsport strategy. Cooperation is part of the Group's everyday work...

  • Page 40
    ... LOVE STORY The American success story spans over 60 years, and the love knows no end. No country in the world has more admirers of the Porsche mystique. The USA is the world number one. Last year, Porsche sold more vehicles there than in any country. The brand continues to excite its customers in...

  • Page 41
    ... circle of customers. In 2014, the USA ended up as Porsche's strongest market in the world, with more than 47,000 delivered vehicles sold. career as an amateur car racer. This experience gave him a good feel for what his customers wanted: extremely light racing cars. The 356 America Roadster was...

  • Page 42
    ... THE USA Porsche Cars North America will open its new headquarters in Atlanta in 2015, including a new integrated customer experience centre. The extensive construction project is currently in its final phase. The new opening is part of Porsche's campaign to expand its brand presence and offer its...

  • Page 43
    Porsche in the USA models, the tires, the best polish and the right oil." HISTORY AND HIGH-TECH "The cars are the stars, not the drivers," is Bob Ingram's motto. A well-preserved man in his mid-70s, Ingram seems in fact like a tailor-made big-time car guy. The retired executive from the ...

  • Page 44
    ... Porsche would be heading to the 2014 starting line in Le Mans in the LMP1 class, we'd have waited another year for the wedding too." "The countless sports cars and conversations with Porsche family members are highlights of any Porsche Parade." MANNY ALBAN President of the Porsche Club of America...

  • Page 45
    ...addition to offering its employees an excellent working environment, Porsche wants to enable them to enjoy the highest possible quality of life; as in the past, enhancing the work-family balance was therefore a key area of activity in the reporting year. For the first time, informational events were...

  • Page 46
    ...not enough time to properly respond to the situation. As a result, Porsche is offering its employees new tools to help them master such challenges: When faced with a situation in which a close family member requires urgent care, employees may be relieved of their duties for a maximum of three months...

  • Page 47
    ...management skills for executives. To date, 304 executives have successfully completed the programme. In financial year 2014, an additional 56 participants began the programme. WORK SAFETY The continuous growth at Porsche AG also presented the work safety department with numerous challenges in 2014...

  • Page 48
    ...members of the John Cranko Schule again put on a free performance at the Schlossgarten. SOCIAL COMMITMENT Active in communities worldwide In the reporting year, Porsche again supported numerous social institutions and projects - mainly at the Company's sites. In Stuttgart, these included Trott-war...

  • Page 49
    ... pollution. Materials are supplied internally for production with the help of paper-free order picking systems, such as "pick by light." The employee tasked with picking is able to view which components to pick directly on the compartment. No pick list is needed when using this system. After all the...

  • Page 50
    ... series. Everything you'd need for racing is there. Beyond this, there's nothing on it without a good reason. "Naturally, you can always look at a vehicle for its performance. But there's nothing cosmetic here. Every part of this car has a function," says Andreas Preuninger, Director GT product line...

  • Page 51
    ... who work on our racing cars." ANDREAS PREUNINGER Director GT product line GT3's style, as do the 20-inch wheels. The rear lights glow in a special dark cherry red, while the inside is dominated by a minimalist style. Pull handles in the same color as the vehicle itself are used to open the doors...

  • Page 52
    ... its tradition of offering its customers a competitive car model for a broad range of sporting leisure." For weight reasons, the GT2 (Biturbo supercharger, 430 hp, top speed 295 km/h) is only offered with rear-wheel drive. The seats cannot be leaned backward, the trunk hood and doors are made of...

  • Page 53
    ... for this renowned competition since 2014. Ambitious special test: the Ennstal-Classic puts strong demands on both driver and vehicle. Annual Report The Porsche 356 rolls slowly down the start ramp. It's just after eight in the morning. Despite the early hour, throngs of spectators line the street...

  • Page 54
    ... the years, with lots of big names finding their way to the "last paradise." The full list would easily fill 20 rows. Among the starters for 2014: Jacky Ickx, Marc Lieb, Walter Röhrl and Hans-Joachim "Striezel" Stuck, all driving Porsche. The company has transported rare and valuable vehicles from...

  • Page 55
    ... the motor is running hard. He'll turn the ignition key, listen to the Boxer engine purr, wait for the start signal and head out onto the course with his sports car. The impressive environment, the sound of rolling tires and wind, the connection between the driver, seat and chassis and the pavement...

  • Page 56
    .... Non-current assets expressed as a percentage of total assets amounted to 76 percent (prior year: 75 percent). At the end of the reporting period, the fixed assets of the Porsche AG group - i.e., the intangible assets, property, plant and equipment, leased assets, equity-accounted investments and...

  • Page 57
    ... is attributable to higher volumes of investments and business. Current other liabilities amounted to 2,868 million euro (prior year: 2,524 million euro). FINANCIAL POSITION Cash flows from operating activities came to 3,179 million euro in the 2014 reporting period following 2,917 million euro in...

  • Page 58
    ... to 25 percent is mainly the result of the changes in the product mix following the introduction of the Macan model as well as increased expenses in the area of research and development. The capitalization rate for research and development costs amounts to 55 percent (prior year: 52 percent). The...

  • Page 59
    ...462 Share of profits and losses of equity-accounted investments Finance costs Other financial result Financial result -1 - 203...Total comprehensive income thereof attributable to shareholders thereof attributable to non-controlling interests 960 958 2 2,536 2,536 - Annual Report Porsche AG 2014...

  • Page 60
    ...17 957 1,570 Income tax provisions Other provisions Financial liabilities Trade payables Other liabilities Income tax liabilities Current liabilities 80 1,337 1,884 1,856 2,868 486 8,511 26,060 52 1,214 2,946 1,485 2,524 340 8,561 24,560 Gross liquidity Annual Report Porsche AG 2014 116 117

  • Page 61
    ... OF PORSCHE AG FOR THE PERIOD JANUARY 1 TO DECEMBER 31, 2014 â,¬ million Subscribed capital Capital reserve Retained earnings Equity before non-controlling interests Non-controlling interests Group equity Accumulated profit Revaluations from pension plan Securities marked to market Cash...

  • Page 62
    Annual Report Porsche AG 2014 120 121 FURTHER INFORMATION

  • Page 63
    ... 206 207 211 213 239 242 245 242 245 245 D B E E E D F F E F E E E-D B E-D Panamera Turbo Executive Panamera Turbo S Panamera Turbo S Executive Panamera Exclusive Series 212 - 2041) 164 - 1591) 216 - 2081) 11.8 - 11.51) 7.8 - 7.51) 9.2 - 8.91) 1) 2) Annual Report Porsche AG 2014 122 123

  • Page 64
    ... PORSCHE AG GROUP IMPRINT 2014 2013 2012 PUBLISHED BY Deliveries 911 918 Spyder Boxster/Cayman Macan Cayenne Panamera units units units units units units units 189,849 30,510 301 23,597 44,636 65,941 24,864 162,145 30,205 - 25,704 - 84,041 22,032 141,075 25,457 - 11,825 - 74,763 29,030 Dr. Ing...

  • Page 65
    DR. ING. H.C. F. PORSCHE AG BOX D - 70432 STUTTGART - GERMANY PHONE +49 711 911 - 0